With 85% Profitability: Here Are The Top 3 Altcoins To Add In Your Portfolio

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2024 has started with a boom for cryptocurrencies, especially those moving in sync with Bitcoin’s ETF gains. Undoubtedly, the crypto market shows signs of a sustained recovery, with Bitcoin (BTC) leading the charge. Bitcoin’s price has surged by 3.5% to $46,254.46, marking its highest price level in weeks. This recent uptick has extended Bitcoin’s growth streak for the past week to 7.18%, showcasing a potential transformation in the market sentiment.

However, this surge has led many traders to re-shuffle their portfolios, with a growing interest in lesser-known coins. After analyzing the price trends of the top five tokens by market capitalization, there are three standout assets with profitable addresses exceeding 85%. 

The Year of Bitcoin (BTC), Tron (TRX), and Immutable (IMX)

According to data from IntoTheBlock, Bitcoin currently boasts a profitability rate of 90.66%, with approximately 47.06 million addresses currently in profit. While no BTC address is incurring losses at the moment, around 4.85 million addresses, or 9.35%, are at the break-even point.

Tron, often overlooked in the crypto sphere, has significantly grown its profitability to 97.51%, with over 113.48 million addresses currently profitable. Although Tron is not a big gainer, its strong performance shows investor interest. Since only a small percentage of addresses are losing data.

However, recent data from Glassnode highlights a rejuvenating trend in the stablecoin market, with Tether’s USDT achieving an all-time high market cap of $89 billion. The combined market capitalization of major stablecoins has surged by nearly $5 billion over the past month, reaching $124 billion.

On a similar move, Immutable also has a lot of profitable addresses—over 55.5 million of them, or 85.58%—right now. Even though it’s not as profitable as Bitcoin and Tron, Immutable’s ability to stay stable in the market is a big plus. On top of that, 8,490 addresses, or 13.07%, lost data. There are also 876 addresses, or 1.35 percent, that are hovering around the break-even point. Making room for more speculations in the coming weeks. 

This changing Trend Suggests Crypto Market Liquidity is Improving

Address profitability serves as a crucial metric for assessing the health of cryptocurrency assets. While Bitcoin, Tron, and Immutable currently lead as the most profitable chains, the market remains dynamic, and these figures may evolve. Nonetheless, this shift towards profitability is a bigger sign that investors are flocking in and the market may see a fresh rally.